Wednesday’s report from the Labor Department showed that year-over-year inflation reached its lowest level in more than three years in July. This suggests the worst price spike in four decades is fading and that the Federal Reserve might do an interest rate cut next month.
But the Trump campaign tried to spin what most economic experts considered to be good news into bad news, by ignoring the new decline and just reporting data that noted that inflation is higher than pre-pandemic.
“Since Kamala is not doing any press, she can’t explain why crippling inflation rates have resulted in a 20% increase in prices since she took office,” the campaign statement said.
You can see the complete statement below, courtesy of Politico’s Meredith McGraw:
As often happens in these cases, Trump’s attempt to tie a good inflation report to Kamala Harris made him a subject of social media mockery.